22. Brokerage Commissions and Net Gains on Investment Securities

Brokerage commissions and net gains on investment securities in fiscal 2012, 2013 and 2014 consist of the following:


	Millions of yen
	2012		2013		2014
Net gains on investment securities	¥	24,894	¥	28,805	¥	19,412
Dividends income, other		4,443		6,009		7,771

	¥	29,337	¥	34,814	¥	27,183

Trading activities—Net gains on investment securities include net trading gains of ¥9,324 million, net trading gains of ¥3,435 million and net trading losses of ¥3,208 million for fiscal 2012, 2013 and 2014, respectively. Gains on derivative trading instruments are included in income from discontinued operations. For further information, see Note 27 “Discontinued Operations.”